UAB „CAST AI Baltic“ is implementing a project partly financed by the European Union

UAB CAST AI Baltic is currently implementing the European Union funded project “Development of CAST AI Multi Cloud Cyber Security Solutions” No. 01.2.1-LVPA-K-823-03-0023 (hereinafter referred to as project). CAST AI – an innovative cloud computing solutions company established in 2019. The main goal of the company’s establishment is to unite the “know-how” of the company’s founders in the field of cloud computing and to offer the market innovative solutions that enable efficient and cost-effective multi-cloud management. The company aims to become a market leader, providing the market with the highest quality products / services at a competitive price.

The market for public cloud services is growing rapidly. According to International Data Corporation (IDC) forecasts, spending on public cloud services and infrastructure in 2019-2023 will be doubled, i.e. from 229 billion USD up to USD 500 billion USD. Recent Gartner research data shows that 81% of public cloud users work with two or more service providers. Most organizations choose a multi-cloud strategy to avoid single-provider reliance and take advantage of the best solutions. However, the growth of the multi-cloud management market is constrained by factors such as a lack of security and limited capabilities to ensure full portability of applications and data. This project aims to address the lack of security by developing three cloud services / cybersecurity-focused products: kubernetes container security solution, kubernetes network security solution and kubernetes Open Policy Agent and Policy Bundles. It is expected that in the next 5-7 years, all major applications will be developed and deployed using governorates, so the market size is extremely large.

The project envisages research for the development and validation of innovative cloud cybersecurity technologies in a laboratory environment, as well as experimental development to develop and demonstrate innovative prototypes of cloud cyber security technologies in real operating conditions and to develop a prototype.

This project is co-financed by the European regional development fund under the 2014-2020 measure No. 1 of the European Union funds investment operational program priority 1 “Promotion of Research, Experimental Development and Innovation” 01.2.1-LVPA-K-823 “SmartInvest LT +”.The total value of the project amount is EUR 5.019.661,12, of which EUR 2.672.186,74 is from European regional development fund and EUR 2.347.474,38 is from the company’s own contribution. Project activities started in 2022 of March 1^st and will be completed in 2023 of August 31^st.